News Article

Swedish Skeppshultcykeln Sold

As of June 7, 2010 Swedish bicycle manufacturer Skeppshultcykeln will have new owners. On that date Kjell Sture and PeO Helge, owners of the company since 1989, will officially handover Skeppshultcykeln to

SKEPPSHULT, Sweden – As of June 7, 2010 Swedish bicycle manufacturer Skeppshultcykeln will have new owners. On that date Kjell Sture and PeO Helge, owners of the company since 1989, will officially handover Skeppshultcykeln to two Swedish brothers; Jonas Andersson and Magnus Andersson.

Jonas Andersson is currently sales manager at Skeppshultcykeln and is an employee of the company since 1997. Magnus Andersson has worked in various management positions for several privately owned businesses in Skeppshult. He is currently accounting/finance manager at a Swedish construction company.

“We consider the sale of the company to be more like a transaction within the family,” says Kjell Sture, Skeppshultcykeln MD. Jonas has been working with us for a long time and is thoroughly acquainted with the Skeppshultcykeln’s core values – to make great bicycles based on solid design and function, and not least, cycles that are manufactured in Sweden.”

Skeppshultcykeln AB has been manufacturing bicycles since 1911 and is the only factory in Sweden to have an unbroken history of producing bikes since the company was founded. Skeppshultcykeln develops and manufactures its own quality bikes that are recognized for their design and function. All frames, all assembly and all painting are done on location in Skeppshult. Sales amounted to approximately SEK 90 million (€ 9.3 mn) in 2009. Skeppshultcykeln has around 50 employees working in development, production and sales.

“We have a burning passion for Skeppshultcykeln. The handover is not really a ‘company acquisition’ – it’s an opportunity for Skeppshultcykeln to continue its history, and the chance for us to refine and further develop a genuine Swedish company and brand. Skeppshultcykeln has been building bikes since 1911 and we aim to carry on that tradition,” says Jonas Andersson, who will take over the position of Managing Director on June 7.

After the ownership change, Kjell Sture and PeO Helge will continue at Skeppshultcykeln. Kjell will work on developing the company’s marketing activities and PeO will work with product development.